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Monday, November 27, 2023

South Molle Island for sale

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SOUTH MOLLE Island has been listed for sale by China Capital Investment Group (CCIG), amid heightened investor interest in the Whitsunday Islands.

South Molle Island is the largest island in the Molle Group archipelago and is one of the closest major islands to the mainland.

CBRE Hotels’ Raymond Tran, Wayne Bunz and Tom Gibson have been exclusively appointed to manage the International Expression of Interest (EOI) campaign for the leasehold interest in the island, which was once home to the 188-room Koala Adventure Island Whitsunday resort.

The listing of South Molle comes after a recent flurry of Whitsunday Island transactions, with Lindeman, Dunk, Lizard, Long and Hook Islands all changing hands over the past two years through CBRE Hotels.

CBRE Hotels’ director Raymond Tran said the purchase provided an opportunity to bring South Molle up to the standard of neighbouring islands.

“The opportunity to acquire South Molle Island provides investors with the ability to redevelop the asset in line with other nearby successful luxury resorts, such as Qualia Hamilton Island, or to provide a more experiential offering including boutique villas or glamping sites,” he said.

“The current owners have also undertaken a $10m redevelopment of the jetty, to allow for marine vessels to drop off and pick up island visitors, given its popularity as a Whitsundays’ destination for multiple yacht charters.”

CBRE Hotels’ national director Wayne Bunz said that the Whitsunday region had proved its strength throughout the pandemic.

“South Molle Island is ideally located and is one of the closest islands to the coastline of Queensland and is positioned in proximity to both Hamilton Island and Proserpine Airports, which are both just a short boat and helicopter ride away,” he said.

“The Whitsunday region proved to be one of the most resilient markets through the pandemic and was recognised as the world’s second most loved tourist destination, in 2022, by the Tourism Sentiment Index, highlighting the region’s robust tourist market and recent strong demand.”

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